Apple stock will be split

Breaking news. Apple’s board of directors just announced that the stock will be split two-for-one on February 18th, 2005. Trading of Apple stock will begin on a split-adjusted basis on February 28, 2005, according to the statement. The last time Apple’s board authorized a two-for-one split was in June of 2000. This was almost to-be-expected since Apple’s shares have been quite bullish for the past 6 months, nearly reaching their all time high of $83.25 achieved on November 1999. What this means for investors is that shares of Apple stock will be more affordable come February 28, 2005. Instead of trading at nearly $80 per share, it will trade at about $40 per share. Current Apple shareholders as of February 18th will automatically have double their existing shares. Times are looking good for Apple. We’ll see if the momentum keeps going up after the split.

Sources: MacWorld, and The Register

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